A reverse mortgage loan can be a great option for those looking for retirement income or to pay off their current mortgage balance. Below is a quick overview on what to expect during your research.
Quick Reverse Mortgage Qualification Checklist
Does this make sense for your situation?
Does a reverse mortgage make sense for your situation? Talk to your accountant, financial
planner, or attorney to understand your options.
Would you qualify?
You must be at least 62 years old and your home must also be your primary residence.
Make sure to receive free information from multiple reverse mortgage experts and compare
what they are offering. You can start by going to step 1 below.
What are the hidden fees and closing costs?
There are a lot of scams targeting seniors. Ask about all the fees, closing costs, and other
hidden costs before securing a loan. Make sure your lender is HUD approved.
Close the deal.
Underwriting will review your reverse mortgage application for approval after a home
appraisal and inspection.
Reverse Mortgage Lenders by State
Related Content and Resources
Estimate your reverse mortgage.